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SharePlanner (< 20)

Trade Setups for May 13, 2010

Recs

1

May 13, 2010 – Comments (8) | RELATED TICKERS: ARC , ADP , QQQ

Things remain a bit unclear heading into the open, with futures waffling between positive and negative territory. We have Jobless Claims at 8:30am ET which should give the market a nudge in one direction or the other.

Also at 8:30am, we have the Import and Export Prices, followed by Vice Fed Chairman, Donal Kohn, who will be speaking at the Centre for Monetary and Financial Economics Conference in Ottawa at 9am. I expect this to be a non-even to the markets.

Added some PowerShares QQQ (QQQQ) to the portfolio yesterday afternoon, and may look to add one more position early on today.

Here are Today's Trade Setups...

LONG: American Reprographics (ARP)

SHORT: Automatic Data Processing (ADP)

8 Comments – Post Your Own

#1) On May 13, 2010 at 8:39 AM, Superdrol (97.23) wrote:

Do you usually have a long/short position all the time ?

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#2) On May 13, 2010 at 8:40 AM, Superdrol (97.23) wrote:

tech might be hot today b/c of Cisco, IBM, etc........

 

I'll take a look at QLD,QID.

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#3) On May 13, 2010 at 9:54 AM, Superdrol (97.23) wrote:

Did you catch the reversal ?  Market has been open for a little over 15 min and there was an awesome negative to positive reversal gap fill.

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#4) On May 13, 2010 at 10:13 AM, LANaturist (99.24) wrote:

So far ARP is doing very little, down 4 cents.

You were right abour ADP.  It is down 32 cents so far.

 

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#5) On May 13, 2010 at 11:52 AM, SharePlanner (< 20) wrote:

Superdrol - Right now I am completely short - I still have about 25% cash on hand. But I typically have both long and short positions in my portfolio, the allocation of which depends on the market environment itself. 

Tech has been a bit of a thorn in my side today :(

I had a feeling we would fill that gap - now if only the bears could get their act together and drive this market lower. :)

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#6) On May 13, 2010 at 11:54 AM, SharePlanner (< 20) wrote:

LANaturist - Thanks! ADP is running weak no doubt - if this market sells off today - it could be in some trouble. ARP is a bit stagnant but the market overall today is the same way as well.

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#7) On May 13, 2010 at 6:21 PM, Superdrol (97.23) wrote:

SharePlanner-

 

I have a trading blog I am starting each month.  Take a look if you get a chance.

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#8) On May 13, 2010 at 7:04 PM, SharePlanner (< 20) wrote:

I'll be sure to do that - thanks for letting me know!

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